Report the effects for each of the following independent transactions using the financial statement effects template. If no entry should be made, leave answer fields blank.

Remember to use negative signs with your answers, when appropriate. Record the net increase (decrease) for a transaction category, when needed.

Report the effects for each of the following independent transactions using the financial statement effects template. If no entry should be made, leave answer fields blank. Remember to use negative signs with your answers, when appropriate. Record the net increase (decrease) for a transaction category, when needed. Balance Sheet Income Statement Noncash Assets Contributed Capital Earned Capital Cash Asset + = Liabilities + + Revenue Expenses = Net Income + + + + Transaction (a) Receive merchandise inventory costing $23,400, purchased with cash. (b) Sell half of inventory in (a) for $19,500 on credit. (c) Place order for $13,000 of additional merchandise inventory to be delivered next month. (d) Pay employee $10,400 for compensation earned during the month. (e) Pay $18,200 rent for use of premises during the month. (f) Receive full payment from customer in part (b). + + + + + + + + + +